Discuss the characteristics of good information

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Discuss the characteristics of good information

Good Information 

Valid – valid data should be unbiased, representative and verifiable.

Reliable - Good information should be reliable. Reliable information is accurate and can be used for what it is needed for. Reliable information is information that you can trust, for instance, gaining data from the government.

Timely - Information should also be timely. Timely information is information that is in the correct time period. It’s important for information to be in the current time period; because if the business want to access certain documents, documents that are not relevant to that time will not be useful to the business and they won’t be able to do what they wanted to do.

Fit for purpose - Good information also need to be fit for purpose; this means that the information is relevant to what it’s needed for. For example, if you wanted to open up a new business in Florida; it would be advisable to find information about the area and the population. Whereas finding information about London wouldn’t be fit for purpose.

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Accessible - Information also needs to be accessible. Accessible information is information that is stored in a way that it can be easily accessed whenever it is needed. For example, if a manager wants to see the sales figures he could be able to print them from a till easily and means the information is accessible.

Cost-effective - Information should also be cost effective. Cost effective information is information that is worth investing money and time in to help the business be successful. For example, if you were to issue a questionnaire which cost £500 pounds but you were able ...

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